证券代码：002792 证券简称：通宇通讯 编号：2025-017 广东通宇通讯股份有限公司 投资者关系活动记录表 | ☑ | 特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | □现场参观 □其他 | | 参与单位名称 | 上海重鼎资产 何金花 | | | 上海卓银私募 唐凯 | | | 上海尚颀投资 宋明 | | | 南京金友私募 邢磊 | | | 北京量子智能投资 廖伟棠 | | | 纵横资本 曹格 | | | 国海证券 张婉姝 | | | 光大证券 顾叙嘉 | | | 国中数控 郑文婕 | | | 上市行 赵秋红 李丹 | | 时间 | 2025 年 12 月 4 日 | | 地点 | 公司会议室 | | 公司接待人员 | 黄华 董事会秘书 | | 姓名 | 张炜亮 投资者关系经理 | | | 邓家庆 证券事务代表 | | | 公司于 2025 年 12 月 4 日接待参与本次调研活动的机构，主要 | | 投资者关系活动 | 活动内容如下： | | 主要内容介绍 | 一、参观公司展厅、测试 ...

Core Insights - Tongyu Communication is a leading enterprise in the communication antenna and RF device sector, focusing on the development, production, and sales of base station antennas, RF devices, and microwave antennas, providing comprehensive solutions for global mainstream mobile communication operators and equipment integrators [2] Company Overview and Strategic Direction - The company has established a strong position in the market, covering 2G to 5G network standards, with domestic clients including China Mobile, China Telecom, and China Unicom, and international partners such as Ericsson, Nokia, and Samsung [2] - As of June 2025, the company holds over 700 authorized patents in the RF communication field, indicating a robust commitment to technology research and development [2] - The strategic focus is on a dual-driven approach of "communication antennas + satellite communication," accelerating research into 6G and low-orbit satellite internet [2] Core Business Progress - In the satellite communication sector, the company has established a comprehensive product system covering the entire "star-ground-end" chain, with significant advancements in low-orbit satellite applications [3] - The company is actively involved in the development of ground station terminals, satellite communication payloads, and terminal applications, with a focus on dynamic antennas for high-speed communication services [3] - The filter business is primarily export-oriented, with a stable customer base including Ericsson, while the microwave antenna products are designed for high-performance point-to-point transmission in complex electromagnetic environments [4] MACRO WIFI Product Development - The MACRO WIFI products are designed for open areas, featuring long-range coverage and high concurrent access capabilities, with successful partnerships established in Australia and ongoing product certification in approximately 18 countries [5] Future Outlook - The company is optimistic about the future of its satellite communication business, anticipating continued market competitiveness and participation in national satellite internet infrastructure development over the next three years [6] - Long-term prospects include the integration of satellite communication with emerging low-altitude economies, with expectations that prior investments in technology and capacity will translate into actual orders and performance contributions [7]

Company Overview - Guangdong Tongyu Communication Co., Ltd. is a leading enterprise in the field of communication antennas and RF devices, focusing on the R&D, production, and sales of base station antennas, RF devices, and microwave antennas [2][3] - The company serves major domestic operators such as China Mobile, China Telecom, and China Unicom, as well as international partners like Ericsson, Nokia, and Samsung [3] Satellite Communication Development - The company has established a comprehensive product layout covering the entire "satellite-ground-end" chain, including satellite communication payloads, ground station terminals, and terminal applications [3][4] - The domestic satellite internet development is a key part of national infrastructure, aiming to fill communication coverage gaps and meet emergency communication needs [4] - By 2030, the goal is to have over 10 million satellite communication users, supported by recent policy initiatives [4] Product and Business Highlights - The company holds over 700 authorized patents in the RF communication field, including various types of international, invention, and utility model patents [3] - The filter business focuses on compact, lightweight, and stable signal products, primarily for export, with Ericsson as a core customer [5] - The microwave antenna business covers frequencies from 5GHz to 80GHz, widely used in digital microwave relay communication systems [5] Future Outlook - The company is optimistic about the future of its satellite communication business, expecting to strengthen market competitiveness and participate in national satellite internet infrastructure construction [6] - With ongoing investments in technology R&D and capacity building, the company anticipates a new growth cycle driven by actual orders and performance contributions [6] MACRO WIFI Product Development - The MACRO WIFI product features long-range coverage, high concurrent access, and intelligent stability, designed for open areas like villages and farms [7] - A significant order of 1,000 units was signed with an Australian client, marking the product's successful entry into overseas markets [8] - The product is currently undergoing certification in approximately 18 countries, including Europe, Africa, and North America, with expected procurement following certification [8]

Financial Performance - In Q3 2025, the company achieved a revenue of 815 million yuan, a year-on-year decrease of 3.34% [2] - The net profit attributable to shareholders was 25.27 million yuan, down 50.91% year-on-year [3] - Operating cash flow improved significantly, reaching 71.01 million yuan, indicating enhanced cash management and operational efficiency [3] Product Development and Market Expansion - The company successfully signed a bulk procurement agreement for MACRO WIFI products with an Australian client, totaling 1,000 units, marking a significant step in overseas market penetration [3] - In the 5G antenna sector, the company maintains deep collaborations with major equipment manufacturers like Huawei, ZTE, Ericsson, and Nokia, with ZTE being the largest domestic client and Ericsson the largest overseas client [4] - The company is expanding its satellite terminal products into new application areas, including cross-border high-speed rail, energy IoT, and civil aviation communication [4] Global Market Strategy - The company has established direct teams in emerging markets such as Mexico, Brazil, South Africa, and North America to enhance local service capabilities [5] - In traditional markets, the company continues to strengthen its presence along the "Belt and Road" initiative, particularly in India, where local factory investments have improved product delivery capabilities [5] - The overseas revenue has shown continuous growth, with major clients including Ericsson, Vodafone, Samsung, and Nokia, solidifying the company's competitive position in international markets [5] Future Technology and Product Layout - The company is preparing for the transition from 5G to 6G, focusing on low-orbit satellite internet technology and related applications [5] - Current technological reserves include multi-beam, ground-to-air and air-to-ground communication, and microwave technology, aligning with future 6G application scenarios [5] - The company’s product layout includes ground terminals and stations, which are integral to the Macro WiFi segment, awaiting formal agreements and standards from regulatory bodies [5]